Hockey fans can finally stop howling about the future of the Phoenix Coyotes.

After a four-year search, the NHL closed the book on the Coyotes saga Monday by confirming the long-awaited sale has been completed to a group headed by Calgary businessman George Gosbee and Ottawa’s Anthony Leblanc.

The sale was approved by the league’s board of governors Monday and the transaction finally closed the era of NHL ownership that began in 2009. The IceArizona group will be introduced at a news conference on Tuesday.

“It’s a great relief,” Gosbee told a Phoenix radio station Monday afternoon. “When we started in January working with the NHL to come up with a deal that would work for everyone, we didn’t think it would take this long.

“As we got into it, I really realized it was a very complex transaction and it was going to take time. I’m really just pleased it’s over and we can focus on building a winning organization in Phoenix.”

While fans in Quebec City and Seattle were holding out hope the Coyotes sale wouldn’t be completed, it came in the nick of time for NHL commissioner Gary Bettman, who was getting heat from some governors to get a deal done.

After losing money during the 113-day lockout and then a shortened 48-game schedule, Bettman was under pressure to get a group in place because the owners didn’t like the fact they were signing cheques to prop up Phoenix.

With one of the largest television markets in the United States, though, Bettman was bound and determined to keep the franchise in Arizona. Naturally, he’s bullish on the long-term survival of the league in Phoenix.

“The NHL believes in Arizona as a market and that these new owners can provide the Coyotes the opportunity to secure a stable, long-term future in Glendale,” Bettman said in a statement.

“We thank the Coyotes’ devoted fans for their patient, perseverant support. We are extremely pleased that a positive resolution has been achieved for the fans, the city, the Coyotes and the league.”

Despite all the kind words, the Coyotes came perilously close to being moved last month. For the first time since this whole mess started, Bettman gave a deadline to get a deal in place in July or else the franchise was gone.

That was partially because several NHL owners didn’t want to have to deal with the situation anymore. The franchise was saved when Glendale City Council agreed to in July to a $225 million deal to manage Jobing.com Arena.

Under the terms of the agreement, IceArizona will receive $15 million per year from the city to run the arena. The owners would then reimburse the city $8.5 to $11 million depending on the revenues of the Coyotes.

If the deal isn’t to IceArizona’s satisfaction after five years — and the franchise isn’t being supported — then Gosbee and Leblanc can pull out of the deal with Glendale to move the franchise without paying any kind of penalty.

The losses would have to add up to $50 million or more.

Glendale mayor Jerry Weiers told the Arizona Republic Sunday he will cooperate with the new owners.

“Pretty much the council made its decision and my job at this point is to do everything in my power to make this thing successful,” said Weiers, who cast a ‘No’ vote. “As a city, we don’t have any choice, we have to make this successful.”

In an attempt to keep everybody on board, the new owners posted a video on the club’s website Monday afternoon with the words “Here to Stay.” That’s because the fan base is having hard time believing the Coyotes will last in Phoenix.

“Our focus is to market a stability campaign and a here to stay campaign,” said Gosbee. “We’re not going anywhere. We came into this with a sole objective if building a winning organization here in the state of Arizona.

“We’re not going to deviate off that. If it takes us a couple of years or 10 years, we’re going to do it.”

Where does this leave Seattle and Quebec City? Both cities want to get a franchise and the league likes the markets. Bringing a team back to Quebec City makes the most sense because the ownership and support is there.

If the NHL does expand to 32 teams then Quebec will most certainly be an automatic because a new arena is also being built to house a franchise but before that happens there are still teams with financial problems that have to be settled.

Bettman was able to put the Coyotes sale to rest, but not until after several attempts to try to sell the franchise failed. The decision to keep the club there was costly and it might be a band-aid solution if the support doesn’t improve.

“The future looks bright for our franchise,” said Gosbee.

The IceArizona Group will smile for the cameras Tuesday but the work is really just beginning.

Sponsored Links

Sale of Phoenix Coyotes ends long ownership saga

Hockey fans can finally stop howling about the future of the Phoenix Coyotes.

After a four-year search, the NHL closed the book on the Coyotes saga Monday by confirming the long-awaited sale has been completed to a group headed by Calgary businessman George Gosbee and Ottawa’s Anthony Leblanc.

The sale was approved by the league’s board of governors Monday and the transaction finally closed the era of NHL ownership that began in 2009. The IceArizona group will be introduced at a news conference on Tuesday.

“It’s a great relief,” Gosbee told a Phoenix radio station Monday afternoon. “When we started in January working with the NHL to come up with a deal that would work for everyone, we didn’t think it would take this long.

“As we got into it, I really realized it was a very complex transaction and it was going to take time. I’m really just pleased it’s over and we can focus on building a winning organization in Phoenix.”